Gdp growth by year

The Hanoitimes - ANZ expects the Vietnamese central bank to keep the policy rate at 6.25% in 2018, but to raise it to 6.75% next year to keep inflation in check. Vietnam’s economy is expected to expand 6.8% this year and 7.0% in 2019, Australia and New Zealand Banking Group (ANZ) has said in an update on Wednesday, unchanged from the bank’s projections in early June, despite a higher-than-expected growth rate in the first half this year. “We forecast strong GDP growth this year and next, as Vietnam continues to attract FDI inflows and expand their manufacturing base,” said Khoon Goh, head of Asia Research at ANZ. The bank pointed out that factors that contribute to Vietnam’s positive long-term outlook include favorable demographics, an educated workforce, ongoing economic reforms, and benefits from free trade agreements that include CPTPP and possibly RCEP and the Vietnam-EU FTA. The bank also noted that in the near term, Vietnam will face a … [Read more...] about ANZ retains forecasts for Vietnam’s GDP growth, sees policy rate hike in 2019

ANZ has forecast strong GDP growth this year and next as Vietnam continues to attract FDI inflows and expand its manufacturing base. According to Mr. Khoon Goh, Head of Asia Research at ANZ, GDP in Vietnam will be 6.8 per cent in 2018 and 7.0 per cent in 2019. Photo by ANZ The positive long-term outlook is based on favorable demographics, an educated workforce, ongoing economic reforms, and the benefits from free trade agreements (the CPTPP, possibly the RCEP, and the Vietnam-EU FTA). Mr. Goh also pointed out the near-term challenges for Vietnam as being ensuring inflation remains contained, managing credit growth so that it is not too strong above trend, and strengthening financial sector balance sheets. Regarding monetary and foreign exchange, ANZ expects the State Bank of Vietnam (SBV) to keep the policy rate at 6.25 per cent this year but raise it to 6.75 per cent in 2019 to keep inflation in check. “We forecast USD/VND at 23,600 by … [Read more...] about ANZ: Strong GDP growth to continue

In a recent report, the International Monetary Fund (IMF) projected Viet Nam’s economy to grow by 6.6 per cent this year and by 6.5 per cent in 2019. Containers at the Tan Vu terminal of Hai Phong port. - Photo VNA Titled “World Economic Outlook, April 2018”, the report predicts that the GDP (gross domestic product) growth of emerging Southeast Asian economies, such as Indonesia, Malaysia, the Philippines, Thailand and Viet Nam, will remain above 5 per cent in 2018 and 2019. Last year, despite many difficulties, Viet Nam’s GDP expanded by 6.81 per cent, higher than the target set by the National Assembly and the highest in the last decade. The quality of the country’s economic growth has also improved, with the overall labour productivity gaining some 6 per cent in 2017. Viet Nam also saw progress in pursuing a new growth model based on productivity and innovation. The country has gradually reduced its reliance on natural resources, particularly … [Read more...] about IMF projects Viet Nam’s GDP growth by 6.6pc

In a recent report, the International Monetary Fund (IMF) projected Viet Nam’s economy to grow by 6.6 per cent this year and by 6.5 per cent in 2019. Titled “World Economic Outlook, April 2018”, the report predicts that the GDP (gross domestic product) growth of emerging Southeast Asian economies, such as Indonesia, Malaysia, the Philippines, Thailand and Viet Nam, will remain above 5 per cent in 2018 and 2019. Last year, despite many difficulties, Viet Nam’s GDP expanded by 6.81 per cent, higher than the target set by the National Assembly and the highest in the last decade. The quality of the country’s economic growth has also improved, with the overall labour productivity gaining some 6 per cent in 2017. Viet Nam also saw progress in pursuing a new growth model based on productivity and innovation. The country has gradually reduced its reliance on natural resources, particularly crude oil, and shifted its focus to industry, manufacturing, processing and … [Read more...] about IMF projects Việt Nam’s GDP growth by 6.6%

Viet Nam News HÀ NỘI — The decade-high GDP growth of 7.38 per cent achieved in the first quarter may not be easy to replicate for the rest of the year. The government, however, will strive towards a year-on-year growth rate of 6.7 per cent. Prime Minister Nguyễn Xuân Phúc said this during the monthly government meeting on Monday in Hà Nội. He asked the Cabinet to “contribute constructively” to the 2018 economic growth scenario to achieve this target, which is higher than the 6.5 per cent growth rate set by the National Assembly last year. The morning session was also amongst the rare ones, with socio-economic affairs, especially the development of growth scenarios, were discussed first instead of the usual law issues. In his opening speech, Phúc also lauded the growth of several sectors in the first quarter. For example, agriculture and fisheries grew by 4.05 per cent, while construction and industry expanded by 9.77 … [Read more...] about 6.7% GDP growth targeted for 2018: Gov’ meeting